Fortive (NYSE:FTV – Get Free Report) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided EPS guidance of 3.800-3.860 for the period, compared to the consensus EPS estimate of 3.810. The company issued revenue guidance of $6.3 billion-$6.3 billion, compared to the consensus revenue estimate of $6.4 billion. Fortive also updated its FY24 guidance to $3.80-3.86 EPS.
Analysts Set New Price Targets
A number of analysts have issued reports on FTV shares. TD Cowen raised Fortive from a hold rating to a buy rating and raised their target price for the company from $75.00 to $90.00 in a report on Monday, July 8th. Truist Financial lowered their price objective on shares of Fortive from $89.00 to $82.00 and set a buy rating for the company in a research report on Thursday. Citigroup dropped their target price on Fortive from $101.00 to $98.00 and set a buy rating on the stock in a research report on Thursday, April 25th. StockNews.com upgraded Fortive from a hold rating to a buy rating in a research note on Monday, May 13th. Finally, Royal Bank of Canada cut their price objective on Fortive from $83.00 to $77.00 and set a sector perform rating for the company in a research report on Thursday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Fortive currently has an average rating of Moderate Buy and a consensus target price of $84.92.
Check Out Our Latest Report on Fortive
Fortive Stock Performance
Fortive (NYSE:FTV – Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.92 by $0.01. Fortive had a net margin of 14.39% and a return on equity of 12.32%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, equities analysts anticipate that Fortive will post 3.82 EPS for the current fiscal year.
About Fortive
Fortive Corporation designs, develops, manufactures, and services professional and engineered products, software, and services in the United States, China, and internationally. It operates in three segments: Intelligent Operating Solutions, Precision Technologies, and Advanced Healthcare Solutions. The Intelligent Operating Solutions segment provides advanced instrumentation, software, and services, including electrical test and measurement, facility and asset lifecycle software applications, and connected worker safety and compliance solutions for manufacturing, process industries, healthcare, utilities and power, communications and electronics, and other industries.
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